Blackout Insurance Explained
Whether it was in 2003, during the ice storm of 2013 or the most recent blackout on April 15, 2014, in the GTA businesses across Canada are asking a common question like “Does my insurance companies cover me for a blackout?” and is blackout insurance available?
The short answer is that it can…depending on a number of factors.
What Can Blackout Insurance Cover?
1. Loss of revenue due to an inability to operate your business. Ex. lost revenue from inability to produce products or deliver service.
2. Value of inventory that spoils or is unusable due to loss of heat or refrigeration equipment Ex. A blackout shuts down refrigeration equipment in the meat processing plant and inventory of steaks spoils and needs to be discarded.
However, in order to file a blackout insurance claim for either of the above losses organizations need to ensure the proximate cause of the loss is covered by their insurance policy and the appropriate extensions to provide blackout insurance coverage for the above scenarios are included.
More About ALIGNED Insurance
ALIGNED specializes in delivering insurance and risk management solutions exclusively to Canadian businesses. Through our 18 points of differentiation and expertise, we deliver unmatched value to our growing portfolio of clients from all industries that range from small to large organizations.
We offer all of the following products:
Board Insurance / Directors and Officers (D&O) Insurance
Employment Practices Liability (EPL) Insurance
Fiduciary Liability Insurance
Property Insurance- Including Business Interruption & Extra Expense
Machinery Breakdown/Boiler & Machinery Insurance
Course of Construction(COC)
Wrap-up Liability Insurance
Commercial General Liability / CGL Insurance
Pollution Liability Insurance
Commercial Automobile & Fleet Insurance
Umbrella Liability Insurance
Cyber, Hacking & Privacy Liability Insurance
Crime/Fidelity/Employee Theft Insurance
Professional Liability/Errors & Omissions (E&O) Insurance
Kidnap & Ransom Insurance
Representations & Warranty Insurance
Surety & Bonding